Arihant Superstructures Ltd

Arihant Super. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Arihant Superstructures Ltd

₹ 455 2.93%
26 Dec - close price
asl.net.in BSE: 506194 NSE: ARIHANTSUP
About

Incorporated in 1994, Arihant Superstructures Ltd is in the business of real estate
development[1]

Key Points

Business Overview:[1]
a) ASL is a real estate player in affordable and mid-income housing segment in the MMR region
b) It has recently ventured into premium luxury real estate segment to develop Villa projects, a hotel and a sports gymkhana
c) Company has expertise in land acquisition & procurement, liaison, design & engineering, EPC and marketing & sales
d) Company enters into JD, JV, and DM arrangements in the mid-income segment to remain Asset-Light with ~19% of Ongoing development area on asset-light model

Website BSE NSE
  • Market Cap ₹ 1,874 Cr.
  • Current Price ₹ 455
  • High / Low ₹ 476 / 255
  • Stock P/E 182
  • Book Value ₹ 51.3
  • Dividend Yield 0.26 %
  • ROCE 7.43 %
  • ROE 11.9 %
  • Face Value ₹ 10.0
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Pros

  • Company has delivered good profit growth of 56.6% CAGR over last 5 years

Cons

  • Stock is trading at 8.87 times its book value
  • The company has delivered a poor sales growth of 10.7% over past five years.
  • Tax rate seems low
  • Company might be capitalizing the interest cost
  • Earnings include an other income of Rs.4.47 Cr.
  • Working capital days have increased from 872 days to 1,237 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Realty Industry: Construction

Part of BSE Consumer Discretionary BSE Allcap BSE SmallCap

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
45.75 43.96 31.26 28.74 21.82 15.89 8.38 36.74 32.59 25.27 17.79 19.85 24.16
30.15 29.48 24.50 21.09 15.77 10.63 7.88 29.34 24.31 20.43 18.30 20.43 19.50
Operating Profit 15.60 14.48 6.76 7.65 6.05 5.26 0.50 7.40 8.28 4.84 -0.51 -0.58 4.66
OPM % 34.10% 32.94% 21.63% 26.62% 27.73% 33.10% 5.97% 20.14% 25.41% 19.15% -2.87% -2.92% 19.29%
0.82 0.78 1.11 1.42 1.54 1.63 1.78 1.74 1.59 1.44 1.44 1.00 0.59
Interest 0.49 0.32 0.20 0.62 0.49 2.18 3.73 0.48 0.37 0.31 0.25 0.24 0.14
Depreciation 0.10 0.10 0.09 0.10 0.10 0.10 0.10 0.10 0.10 0.10 0.09 0.10 0.10
Profit before tax 15.83 14.84 7.58 8.35 7.00 4.61 -1.55 8.56 9.40 5.87 0.59 0.08 5.01
Tax % 17.94% 7.95% 21.11% 16.65% 13.71% -51.19% -1.29% 11.33% -0.11% 0.51% 94.92% 50.00% 13.17%
12.98 13.65 5.98 6.96 6.05 6.97 -1.52 7.58 9.41 5.85 0.03 0.04 4.35
EPS in Rs 3.15 3.32 1.45 1.69 1.47 1.69 -0.37 1.84 2.29 1.42 0.01 0.01 1.06
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
70 48 59 83 129 105 68 59 105 151 75 112 87
62 44 46 58 83 84 56 54 93 106 55 92 79
Operating Profit 7 4 13 25 46 21 12 5 12 45 19 20 8
OPM % 11% 9% 22% 30% 36% 20% 18% 8% 12% 30% 26% 18% 10%
9 8 6 4 2 2 3 2 2 3 6 6 4
Interest 9 8 4 4 8 6 12 8 10 2 7 1 1
Depreciation 0 0 1 1 1 1 1 1 1 0 0 0 0
Profit before tax 7 4 14 25 40 16 2 -1 4 46 18 24 12
Tax % 32% 34% 32% 32% 34% 35% -4% -1% -1% 13% -0% 6%
5 3 10 17 27 10 2 -1 4 40 18 23 10
EPS in Rs 1.19 0.68 2.36 4.16 6.47 2.51 0.59 -0.34 0.95 9.72 4.49 5.57 2.50
Dividend Payout % 17% 37% 13% 22% 15% 20% 85% 0% 0% 0% 11% 22%
Compounded Sales Growth
10 Years: 9%
5 Years: 11%
3 Years: 2%
TTM: -7%
Compounded Profit Growth
10 Years: 23%
5 Years: 57%
3 Years: 80%
TTM: -54%
Stock Price CAGR
10 Years: 28%
5 Years: 79%
3 Years: 39%
1 Year: 69%
Return on Equity
10 Years: 12%
5 Years: 12%
3 Years: 16%
Last Year: 12%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 41 41 41 41 41 41 41 41 41 41 41 41 41
Reserves 23 25 33 51 77 79 73 71 77 117 135 167 170
67 41 37 62 78 80 83 96 19 7 98 212 221
41 65 86 100 82 88 61 77 89 94 93 75 107
Total Liabilities 172 172 197 254 278 288 258 285 226 259 367 495 539
3 3 2 3 5 4 3 5 5 5 4 4 4
CWIP 0 0 0 0 0 0 0 0 0 0 0 0 0
Investments 0 1 1 5 0 0 0 0 0 0 0 0 0
169 168 194 246 272 283 255 279 221 254 363 491 535
Total Assets 172 172 197 254 278 288 258 285 226 259 367 495 539

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-57 31 -1 1 -6 9 9 -5 86 8 -88 -129
8 7 6 4 2 1 2 0 2 2 6 6
36 -34 -9 -5 4 -9 -11 5 -87 -14 84 122
Net Cash Flow -14 3 -4 -1 -0 1 0 1 1 -3 2 -1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 0 14 23 33 74 154 92 105 48 55 92 62
Inventory Days 2,822 1,232 7,416 10,129 6,954 2,242 1,492
Days Payable 223 74 789 941 1,094 413 449
Cash Conversion Cycle 0 2,614 23 1,191 74 6,780 9,280 5,964 1,877 1,098 92 62
Working Capital Days 658 732 439 544 483 664 933 1,076 437 304 1,075 1,237
ROCE % 13% 10% 17% 22% 27% 11% 7% 3% 8% 32% 12% 7%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
74.31% 74.41% 74.50% 74.71% 74.71% 74.71% 74.71% 74.71% 74.71% 74.71% 74.71% 74.71%
0.32% 1.16% 1.46% 0.70% 0.69% 0.69% 0.65% 0.56% 0.00% 0.00% 0.03% 0.02%
1.38% 1.71% 1.38% 1.39% 1.39% 1.39% 0.51% 0.00% 0.00% 0.00% 0.00% 0.00%
23.99% 22.72% 22.65% 23.19% 23.21% 23.21% 24.12% 24.74% 25.28% 25.28% 25.25% 25.27%
No. of Shareholders 7,0357,7067,3487,9367,1136,4916,8307,0146,6456,5066,4407,660

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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